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The Spending Accounts

Effective 1/1/22
The Spending Accounts allow you to set aside before-tax money to help pay for eligible health care, dependent care and work-related transportation expenses. This means that the money you set aside in the accounts to pay for these expenses comes out of your pay before federal (and most state and local) income, Social Security and Medicare taxes are calculated, which saves you money!
JPMorgan Chase offers three spending accounts:
  • Health Care Spending Account — for your eligible out-of-pocket health care expenses;
  • Dependent Care Spending Account — for eligible child or elder care expenses that let you (and your spouse, if you're married) work, or let your spouse attend school full-time; and
  • Transportation Spending Accounts — for eligible commuting and parking expenses to and from work at JPMorgan Chase.
The Health Care Spending Account is an ERISA plan. The Dependent Care Spending Account and the Transportation Spending Account are not ERISA plans and are therefore not governed by the rules and procedures of ERISA. This document is a description of those Plans for informational purposes only. This section will provide you with a better understanding of how the Spending Accounts work, including how and when expenses are paid.
Be sure to see important additional information about the Plan, in the sections titled About This Guide, What Happens If … and Plan Administration.
About this Summary Plan Description
This section is the summary plan description (SPD) and the plan document for the JPMorgan Chase Health Care Spending Account. Please retain this section for your records. Other sections may also constitute the complete SPD/plan document, including the Plan Administration section.
This section is also a summary of the Dependent Care Spending Account and the Transportation Spending Account, though it is not an SPD or plan document, as these plans/programs do not require an SPD or plan document.
This summary does not include all of the details contained in the applicable insurance contracts, if any. For plans with applicable insurance contracts, if there is a discrepancy between the insurance contract and this SPD/plan document/summary, the insurance contract will control.
 
The JPMorgan Chase U.S. Benefits Program is available to most employees on a U.S. payroll who are regularly scheduled to work 20 hours or more a week and who are employed by JPMorgan Chase & Co. or one of its subsidiaries to the extent that such subsidiary has adopted the JPMorgan Chase U.S. Benefits Program. This information does not include all of the details contained in the applicable insurance contracts, plan documents and trust agreements. If there is any discrepancy between this information and the governing documents, the governing documents will control. JPMorgan Chase & Co. expressly reserves the right to amend, modify, reduce, change, or terminate its benefits and plans at any time. The JPMorgan Chase U.S. Benefits Program does not create a contract or guarantee of employment between JPMorgan Chase and any individual. JPMorgan Chase or you may terminate the employment relationship at any time.